The Institute of Directors

The board adds value by leading the entity's purpose, goals and strategy. It must take ownership of the entity's strategic direction. Long-term business sustainability is a critical focus of the board.

The board adds value by acting as a team with a high-performance culture, committed to engaged, quality governance of the entity. It supports open debate, diversity, thoughtful challenge and constructive dissent.

A value adding board holds management to account through informed, accurate and independent oversight of performance and conformance matters. It does not do the job of management, but ensures purpose and strategy are understood by management and implemented.

The board adds value by ensuring the entity is, and remains, solvent. It ensures probity of financial reports and processes, and a high standard of compliance with regulatory environments.